Subordination Agreement 1988-133359
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RECORDING REQUESTED BY 88- 1'3;,335 9
WESTLANQ !!1:L; ~ECORDED INil
' . OFFICIAL RECORDS
RECORDING REQUESTED BY. OF SAN DIEGO COUNTY, CA.
THE CITY OF POWAY 1988MAR 24AM8:00
WHEN RECORDED MAIL TO: UVERA L. LYLE I
COUNTY RECORDE!!.-j
THE CITY OF POWAY
P.O. BOX 7f,9
POWAY, CALIFDRNIA NO FEE
92064
SUBORDINATION AGREEMENT
FDR VALUE RECEIVED, the undersigned, as Assigned Beneficiary under a Deed of
Trust dated November 3. 1983, recorded in the Office of the County Recorder
of San Diego County, November 4, 1983, File No. 83-400923, and as owner and
holder of the obligations thereby secured does hereby make subject and
subordinate the liens thereof to the Easement granted by Poway Retirement
Home Partners and Mounts/REI Joint Venture to THE CITY OF POWAY, it being
understood and agreed that foreclosure of said Deed of Trust shall not
affect, defeat or render invalid any rights under and by virtue of said
easement, and said easement shall be paramount and superior to the rights of
any purchaser under a foreclostrre of said Deed of Trust.
Said easement was recorded concurrently herewith, File No. xX' - / '333 S 7
and affects the real property described in said Deed of Trust.
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The undersigned Beneficiary of'said Deed of Trust declares and acknowledges
'--'.. that it hereby intentionally waives. relinquishes, and subordinated the
priorities and superiorities of the lien and charge of said Deed of Trust
upon the land described therein in favor of said easement, and that it
understands that in reliance upon and in consideration of this waiver,
relinquishment, and subordination specific monetary and other obligations
will 'be entered into by Third Parties which would not be made or entered
into but for said reliance and the execution by Beneficiary of this waiver,
relinquishment, and subordination.
Dated: February 12. 1988 Assigned Beneficiary: Midwest Federal
Savings and Loan Association of
Eastern Iowa t.'.. a>.. ... _'-~-_''':::'''-:''~.2:2
R/WNo., ~ ~
Exc. No. BY: ' . .
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Tract #84",03. Lot #4 BY. ' G:('
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Corporation Acknowledgment 617
~ ST A TE OF fOliA I S5,
I COUNTY OF DES MOINES I
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a ~ February 12 , 19~, before me, the undersigned. a Notary Public in and for said County
;:.., On
'" 8 and State. personally appeared Ci"lrlt:nn W Hnlm;:::>c:: , personally known to me (or proved to me
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I ; ~ on the basis of satisfactory evidence) to be the ,President, and
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~,~ PatsY L. Bennett , known to me to be the Secretary of the corporation that
.~~!i 8 executed the within instrument, and known to me to be the persons who executed the within instrument on behalf of \
~~ the corporation therein named, and acknowledged to me that such corporation executed the within instrument pur-
suant to its By-Laws or a Resolution of its Board of Directors.
'" Z Notary Seal
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~ ~ WITNESS my hand and official seal.
DENISE L TlfOMpSON I
J2.,~ i
~ "..:Jlury,....,~ ~ MY COMMISSIOK ~IRES
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Denise L. Thompson ,
Notary Public'in and for said County and State.
i UL-1l9